Markets this week: Nifty down 0.4%, Sensex down 0.7%, Nifty Media outperforms

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The Nifty pared its morning gains and turned negative in afternoon trade, as bears tried to take control of D-Street from the bulls on Friday.
 

• The index did not close around its day’s low, which suggests buying interest at lower levels, the only positive takeaway from the trading session.
• Benchmark index Nifty50 was down 0.4%, while the 30-share Sensex index was down 0.7% through the week ended on Friday.
• If we take a look at the sectoral front, Nifty Bank was down 0.7%, Nifty Pharma was down 3.1%, Nifty Metal was down 2.6%, Nifty PSU Bank was down 2% and the Nifty FMCG was down 1.2%.
• Meanwhile, the Nifty Mid-cap index outperformed the major equity indices, and gained as much as 1.4% throughout the week ended on Friday. Other sectors such as Nifty Media gained 3.4% and Nifty Infra gained 1.2%.

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